Suryodaya Laghubitta allotment of 1.20 lakh unit IPO shares on Kartik 4

Suryodaya Laghubitta Bittiya Sanstha Limited had floated its Initial Public Offering (IPO) of 1, 20,000 unit shares worth Rs 1.20 crore from Bhadra 12, 2073 till Bhadra 15, 2073. Parasmani Dhakal, CEO of Global IME Capital Limited said, “The allotment of the IPO will be on Kartik 4, 2073.” The premise and time of the allotment are yet to be finalized added Mr. Dhakal. Global IME Capital Limited has been appointed as the issue manager for the IPO. The IPO was oversubscribed by more than 340.44 times till the last day. Around 1 lakh11 thousand 521 application forms were received. The microfinance company has set aside 4,800 unit shares for its employees and 6,000 unit shares for the existing seven mutual fund companies. The mutual fund schemes are Nabil balance fund-1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1, Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1 and Global IME Sammunati Fund. The company has set aside 1, 09,200 unit share to the general public. The microfinance company plans to raise Rs 1.20 crore through the offer. After the IPO, it’s paid up will reach Rs 4 crore from the current Rs 2.80 crore. Its authorized capital stands at Rs 8 crore. After the IPO, the promoter-public ratio of the company will be 70 % to 30%. The head office of the company is located at Putali Bazar of Syangja whereas its working areas are Baglung, Myagdi, Parbat, Syangja, Manang, Lamjung, Mustang, Gulmi, Pyuthan and Rolpa. Suryodaya Laghubitta has earned net profit of Rs 1.49 crore in the fourth quarter of the last fiscal year 2072/73. The microfinance company has paid up capital of Rs 2.8 crore.